Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in German American Bancorp, Inc. $GABC

Key Points

• Mirae Asset Global Investments increased its stake in German American Bancorp by 41% in Q2, owning 34,106 shares valued at $1.31 million.
• In recent analyst ratings, German American Bancorp was upgraded to a "hold" by Wall Street Zen and to a "buy" by Weiss Ratings, with a consensus target price of $46.00.
• The company declared a quarterly dividend of $0.29 per share, reflecting a 3.0% dividend yield and a payout ratio of 44.11%.

Mirae Asset Global Investments Co. Ltd. grew its position in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 41.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,106 shares of the bank's stock after buying an additional 9,921 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.09% of German American Bancorp worth $1,313,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of German American Bancorp by 20.4% during the first quarter. Vanguard Group Inc. now owns 2,106,784 shares of the bank's stock valued at $79,004,000 after buying an additional 357,360 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of German American Bancorp by 11.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,109,170 shares of the bank's stock valued at $41,594,000 after buying an additional 109,789 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of German American Bancorp in the first quarter worth approximately $19,336,000. L.M. Kohn & Company grew its stake in shares of German American Bancorp by 34.7% in the first quarter. L.M. Kohn & Company now owns 490,458 shares of the bank's stock worth $18,392,000 after acquiring an additional 126,236 shares during the period. Finally, Royce & Associates LP grew its stake in shares of German American Bancorp by 35.5% in the first quarter. Royce & Associates LP now owns 429,760 shares of the bank's stock worth $16,116,000 after acquiring an additional 112,539 shares during the period. Hedge funds and other institutional investors own 46.90% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Wall Street Zen upgraded shares of German American Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Weiss Ratings upgraded shares of German American Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Finally, Piper Sandler lifted their price target on shares of German American Bancorp from $42.00 to $44.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $46.00.

Insider Buying and Selling at German American Bancorp

In other news, Director Diane B. Medley purchased 882 shares of the company's stock in a transaction on Monday, August 4th. The stock was acquired at an average cost of $37.95 per share, for a total transaction of $33,471.90. Following the completion of the transaction, the director directly owned 6,252 shares in the company, valued at $237,263.40. This trade represents a 16.42% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have purchased 3,352 shares of company stock valued at $133,482 in the last three months. Corporate insiders own 6.16% of the company's stock.

German American Bancorp Stock Performance

GABC opened at $38.46 on Friday. The firm has a market cap of $1.44 billion, a P/E ratio of 14.62 and a beta of 0.62. German American Bancorp, Inc. has a 1-year low of $32.75 and a 1-year high of $47.08. The company has a 50 day simple moving average of $40.10 and a two-hundred day simple moving average of $38.86. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.86.

German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its quarterly earnings results on Wednesday, September 7th. The bank reported $0.81 earnings per share for the quarter. The business had revenue of $64.78 million during the quarter. German American Bancorp had a net margin of 20.84% and a return on equity of 11.59%. Equities analysts forecast that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Sunday, August 10th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, August 8th. German American Bancorp's dividend payout ratio is presently 44.11%.

About German American Bancorp

German American Bancorp, Inc operates as a financial holding company for German American Bank that provides retail and commercial banking services. The company operates through three segments: Core Banking, Wealth Management Services, and Insurance Operations. The Core Banking segment accepts deposits from the general public; and originates consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, as well as sells residential mortgage loans in the secondary market.

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